Kieran O'Donnell (Limerick East, Fine Gael)
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Question 102: To ask the Minister for Finance the breakdown of the individual discounts being applied to each of the five financial institutions in respect of the loans of €77 billion being taken over by the National Asset Management Agency; and if he will make a statement on the matter. [37797/09]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The figure of E77 billion relates to the estimated book value of the loans of five covered institutions who have indicated their intention to participate in NAMA. When presenting this information to the Dáil in September, I indicated that both the estimate of book value and the projected average discount of 30% to be applied in the purchase of these assets, was provisional in nature and based on summary information provided by the institutions concerned.

The actual discounts to be applied will be determined on an asset by asset basis following the application of the valuation methodology. The aggregate discount by institution will only be available on completion of the valuation of the loan books of each participating institution. This will only be possible following the finalisation of the NAMA legislation, the designation of participating institutions and the designation of eligible assets among other issues.